The value of Bitcoin treasury companies has crashed by nearly three-quarters since June’s highs, raising fears over whether the trend has lost its shine – www.naijnaira.com reports.
Data shared by André Dragosch, research chief at Bitwise, shows that stocks tied to these companies have lost about 75% from their previous peak.
U.Today noted that some analysts believe the market may have reached a short-term top, while others think the sell-off could turn into a potential buying window.
Metaplanet’s stock has suffered one of the sharpest hits, dropping around 62% from its June all-time high of 1,930 yen, though it still ranks as the sixth-largest Bitcoin treasury holder.
MicroStrategy, long considered the heavyweight in Bitcoin treasury holdings, also recorded a steep decline of nearly 28% from its July high of $458.
Smaller companies, including Blockchain Group SA, have not been spared either, recording deep losses amid the broader downturn.
Market watchers tie the plunge to fading institutional demand and lingering concerns over inflated premiums compared to net asset value.
As Dragosch put it, “this could be the top, but it could also be a chance for patient buyers.”
The question now is whether these Bitcoin treasury stocks can regain momentum or if the decline marks the end of the hype.
Article updated 4 days ago. Content is written and modified by multiple authors.
